GBTC and ETHE - What Will Monday Look Like?
Hello friends, today you can review the technical analysis on the 1W chart for Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
1) Both GBTC and ETHE are heavily invested into the crypto markets through Grayscale.
2) With the crypto market correction, prices of both GBTC and ETHE may fall as well.
3) Both charts show the Fibonacci Retracement from the beginning of the this crypto bull cycle to current prices.
4) Since Bitcoin was down about 20-25%, CryptoPickk assumed a 20% decrease. This may be completely off as GBTC and ETHE has been affected harder when crypto markets are down. It is difficult to catch a falling price so it's pretty to start somewhere and plan based on where it goes.
5) If prices keep falling, keep an eye on the 0.382 fib level as this has been a target where prices start to move back up.
It's not the time to get completely negative on the markets, but it is a time to start thinking about what to do next. Be cautious.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
1) Both GBTC and ETHE are heavily invested into the crypto markets through Grayscale.
2) With the crypto market correction, prices of both GBTC and ETHE may fall as well.
3) Both charts show the Fibonacci Retracement from the beginning of the this crypto bull cycle to current prices.
4) Since Bitcoin was down about 20-25%, CryptoPickk assumed a 20% decrease. This may be completely off as GBTC and ETHE has been affected harder when crypto markets are down. It is difficult to catch a falling price so it's pretty to start somewhere and plan based on where it goes.
5) If prices keep falling, keep an eye on the 0.382 fib level as this has been a target where prices start to move back up.
It's not the time to get completely negative on the markets, but it is a time to start thinking about what to do next. Be cautious.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
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